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Stocks turn higher...US debt rating up...Airbag probe widens

Monday - 6/10/2013, 12:28pm  ET

NEW YORK (AP) -- A better outlook for the U.S. government's credit rating did little to impress investors Monday. Stock prices are showing only modest gains in early trading after Standard & Poor's raised its outlook for U.S. government debt and predicted an improving economy. There were no major government reports on the U.S. economy, and no big companies announced earnings.

WASHINGTON (AP) -- Standard & Poor's Ratings Services upgraded its outlook today for the U.S. government's long-term debt to "stable" from "negative." S&P cited the government's strengthened finances, a recovering U.S. economy and some easing of Washington's political gridlock. The upgrade means a future debt downgrade is less likely. The government's "AA+" long-term and "A-1+" short-term unsolicited sovereign credit ratings remain unchanged. The long-term rating remains a notch below S&P's top grade.

DETROIT (AP) -- Government safety investigators are widening their look at faulty car air bags. They've added about 320,000 older model Honda Odyssey minivans to their probe, which now includes at least three automakers and more than 2 million vehicles. Front air bags on the 2003 and 2004 Odysseys can inflate without a crash and could injure drivers and passengers. The vans have the same air bag control computers that already have caused Toyota Motor Corp. and Chrysler Group LLC to recall more than 1.8 million vehicles worldwide.

NEW YORK (AP) -- Apple is expected to reveal a digital radio service and changes to the software behind iPhones and iPads today as the company opens its annual conference for software developers. Apple hasn't said what it will unveil at the Worldwide Developers Conference in San Francisco. But the major announcements are expected during today's keynote presentation.

WASHINGTON (AP) -- The Supreme Court is giving California raisin producers a new day in court to object to a government program that aims to stabilize prices by regulating the market. The justices today unanimously ordered a federal appeals court in California to take a new look at claims brought by farmers in California's Central Valley. At stake is a Depression-era program intended to raise the price of raisins by keeping some off the market. The state produces almost all raisins in the United States.

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